Investec hires Credit Suisse’s head of European equity sales in US push

Credit Suisse’s former head of European equity sales in North America has been hired by mid-market investment bank Investec as it builds out a New York team to sell UK listed companies to US investors.

Kathryn Spain, who has spent 20 years at the Swiss bank, is set to join Investec as head of North American equities distribution, along with four other senior hires at the bank as it bolsters its US presence. The new hires will take its US headcount from five to nine people, with Spain leading a team that will sell UK FTSE 250 stocks to Wall Street investors.

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Credit Suisse has been dealing with the twin crises of the collapse of family office Archegos Capital, which has cost the Swiss bank $5.5bn, and its links with supply chain finance firm Greensill Capital. Swathes of dealmakers and senior equities staff have left Credit Suisse in recent months, and the Swiss bank has also been replenishing the ranks of its investment bank with new hires. Spain left the Swiss bank in February, however.

Clive Murray, head of equities at Investec said that US investors “including pension and hedge funds, increasingly value a deep specialist knowledge of the UK market, which our expanding team will offer”.

“Since Brexit, our Dublin office has become the natural gateway for European investors and UK companies looking to expand in Europe. We see New York becoming a vital part of Investec’s global operations in the same way, as the shareholder base of UK corporates continues to internationalise,” he added.

Investec has also taken on John Packes, who was most recently a sales trader at HSBC, as well as James Ewing from Kepler Cheuvreux to lead the distribution of its UK research to US clients. Luke Hedley has also joined Investec’s sales trading team from Numis, and will remain London, while Sarah Daniels has joined as a member of its corporate access team.

To contact the author of this story with feedback or news, email Paul Clarke

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